The following are some of the key features of a personal loan of Rs. 10 lakh from Federal Bank:
Federal Bank 10 Lakh Personal Loan
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How Can I Apply for a Personal Loan Online?
Get up to ₹40 Lakh in 5 Simple Steps
Step 1: Enter your mobile number in the application form
Step 2: Provide your personal details
Step 3: Enter OTP to verify your mobile number
Step 4: Select the loan purpose and loan amount
Step 5: Compare offers and apply for the best-suited loan
Features of 10 Lakh Federal Bank Personal Loan
Interest Rates for 10 Lakh Federal Bank Personal Loan
Federal Bank personal loan interest rate starts at 12% p.a. and can go up to 19.5% p.a. for applicants availing a loan amount of Rs. 10 lakh. However, the interest rate offered may vary depending on the credit profile of the applicant, income and employment stability, loan amount and tenure desired, relationship with the bank, etc.
Eligibility Criteria for 10 Lakh Federal Bank Personal Loan
The following are the key eligibility considerations that must be kept in mind when applying for a personal loan of Rs. 10 lakh from Federal Bank:
Documents Required for Federal Bank Personal Loan of 10 Lakh
The following are the key documents required to avail a personal loan of Rs. 10 lakh from Federal Bank:
Duly filled and signed loan application form
KYC Documents
Income Documents
Fees and Charges for 10 Lakh Federal Bank Personal Loan
The following are the some of the key fees and charges associated with a personal loan of Rs. 10 lakh from Federal Bank:
| Charge Type | Applicable Amount |
|---|---|
| Processing Fees | 2% of the loan amount |
| Prepayment/Pre-closure Charges | Floating Rate Schemes – Nil
Fixed Rate schemes- 3% (Excluding Byom Loans) |
| Charge for CIBIL Report | Nil |
| CERSAI Registration/Modification Charges | Nil |
How to Apply for Personal Loan through Paisabazaar
To apply for a personal loan online, following the steps given below:
- Go to the Paisabazaar app or website
- Fill in your mobile number
- Fill in other necessary information
- Enter the OTP that you receive on your mobile number
- Browse through the various offers available and choose the one that suits your requirement
Other Types of Federal Bank Personal Loans
Other types of Federal Bank personal loan options available include:
Pre-Approved Personal Loan:
Digital Personal Loan:
How Can I Apply for a Personal Loan Online?
Get up to ₹40 Lakh in 5 Simple Steps
Step 1: Enter your mobile number in the application form
Step 2: Provide your personal details
Step 3: Enter OTP to verify your mobile number
Step 4: Select the loan purpose and loan amount
Step 5: Compare offers and apply for the best-suited loan
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FAQs
What is the total interest cost of Rs. 10 lakh personal loan at 12% p.a. and tenure of 1 year from Federal Bank?
The total interest cost of Rs.10 lakh personal loan at 12% p.a. for a tenure of 1 year is Rs. 66,185.
What is the interest rate of Federal Bank Rs. 10 lakh personal loan?
Currently a personal loan of Rs.10 lakh from Federal Bank is offered at an interest rate starting from 12% p.a. However, Federal Bank personal loan interest rates may go up to 19.5% based on the credit profile of the applicant, loan amount and tenure desired, etc.
What are the tenure options available to applicants wanting a personal loan of Rs. 10 lakh from Federal Bank?
A Federal Bank personal loan of Rs.10 lakh can be repaid within a tenure ranging between 12 months to 60 months.
Do I have to pay any additional fees/charges for Rs. 10 lakh personal loan from Federal Bank?
You need to pay a processing fee of 2% on your Federal Bank personal loan. This fee will be deducted from the disbursal amount payable to you.
Personal Loan Articles
View All ArticlesPaisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.
The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.
The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.
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